So open sources (IGN) are reporting there's going to be a new Xbox One console code named 'Scorpio' which will supposedly be revealed at this year's E3. It boasts to be 40% smaller than the current Xbox One and will be much more efficient in power output.

Thoughts? Will you look into purchasing one if the rumors are true? Or is it a waste of money?

If it's going to be anything remotely similar to the PlayStation Neo, then the developers will just make 2 versions of the game, in which when you buy/download the game, it'll give you the version that your console supports. Either that, or the new Xbox will just have PC like graphics settings.

It wouldn't surprise me if MS had this console up their sleeves all along, and created the first xbox one with the intention of being replaced as soon as a newer gen of the xbone was in the midst, due to unnecessary chunkiness, clunkiness and a major lack in space.

well thought out MS. You're almost as sinister as Apple; but not quite there yet.

EXCEPT for the fact that providing yet ANOTHER platform for developers to have to provide product for is stretching and taxing the industry already. Couple that with the fact that NO CONSOLE FROM THIS GENERATION has yet to have even a 1/8th of it's actual production capability utilized due to the inherent nature of software > hardware development.

From a hardware/software standpoint within the industry, it takes a full 7 years or slightly less, for software to catch up and harness the theorized potential of hardware to a maximum level of performance. This is less about a money grab, and more about making a product that potentially has a larger lifespan than the Xbox 360.

You need to factor in the form specifics of the design and the hardware that was brought to market with the Xbox One. The components were based on designed and implementations from years ranging 2009-2013. At that time, chipset manufacturers did not support the type of code enhancements that are available now similar to what we are seeing with GPU's utilizing Mantle, and DX12. I would expect that this new Xbox console will be more than just a simple updated chipset, but also have the underlying ability to have it's components swapped, or have a great range of software/firmware updates to further maximize the hardware far beyond what we would normally see in an EOL cycle.

All of that being said, there is never going to be a close enough gap between consoles and PC's, in which consoles become easier and afford such a span in quality, that Microsoft's vision of a gaming-less PC future can be achieved. Microsoft itself for the past 2 decades has constantly contradicted itself, and plainly admitted without actually saying it, that it wants all gaming to be on it's console hardware.